Life Insurance Reportable Income (BN150)
Run Life Insurance Reportable Income (BN150) to calculate the cost of excess employee and dependent life insurance for each employee.
Processing Effect
The Benefits Administration application performs calculations based on the coverage and contributions in effect on the As of Date. You can create a time record for each employee to update taxable wages. The time record represents the cost of excess life insurance for the reporting period.
You can calculate the cost of excess life insurance annually, each month, or on a pay period basis.